Hong Kong SAR

Mainland online credit card manager 51 Credit Card submitted a draft IPO prospectus to the Hong Kong Stock Exchange on Thursday.

Mainland firms Hope Education Group and Beijing Huatu Hongyang Education & Culture Corp are seeking the green light to launch IPOs in Hong Kong.

There was a time when Asia’s dollar bond market was just a sideshow to the global market, offering little in the way of excitement, sophistication or innovation. How times change, as Rashmi Kumar finds out.

Asia’s loan market has seen big shifts over the past three decades, with regional banks competing head-on with international lenders and the institutional market gathering pace. But some key ingredients are still missing, writes Rashmi Kumar.

Asian investors’ rise to dominance has caused a repricing across the region’s capital markets, and raised questions about just where US and European deals should price. How much further can regional liquidity rise in importance? GlobalCapital Asia finds out.

Asia’s local currency bond markets, which received a big fillip following the region’s financial crisis in 1997, have come a long way as economies work towards insulating themselves from global volatility. But although the region’s economies are now in better shape, there is no room for complacency, writes Rashmi Kumar.

A lot has changed for capital markets bankers in Asia over the last 30 years — and not just their favourite bars. GlobalCapital Asia asks veteran bankers to wander down memory lane and pick their best, and worst, moments.

The Asian financial crisis forced countries in the region to become more resilient. The global financial crisis proved they had done just that. But what shape will the next crisis take — and how are Asian economies equipped to deal with it? Matthew Thomas finds out.

The widening gap between Libor and Hibor, which reached the highest level in 10 years on Wednesday, is pushing Hong Kong and Chinese borrowers to the Hong Kong dollar-denominated loans market. But while the possibilities for opportunistic deals are plenty, bankers warn the window won’t be open for too long. Pan Yue reports.

China’s promotion of a home-grown depository receipt market is already gaining traction, even before the rules around it are published, with the big four technology giants showing their interest in returning home. But while China Depository Receipts (CDRs) will put pressure on the Hong Kong exchange, it will be some time before they pose a serious threat, writes Jonathan Breen.

Hong Kong stole the show for overnight share sales in Asia this week as three transactions worth a total of $1.3bn were priced — before a monster $10.6bn sell-down in Tencent Holdings launched as GlobalCapital Asia went to press on Thursday.

Global internet and entertainment group Naspers launched a block sale of Tencent Holdings shares on Thursday, looking to raise $10.6bn, according to a term sheet seen by GlobalCapital Asia.